Savannah Resources (LON:SAV) Share Price Passes Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Savannah Resources' share price has fallen below its 200-day moving average, currently trading at GBX 4.13 ($0.06) after reaching a low of GBX 4.10 ($0.05).
• Canaccord Genuity has maintained a "speculative buy" rating for the stock, targeting a price of GBX 8, while Savannah Resources holds a consensus rating of "Buy" among analysts.
• The company has a market capitalization of £97.69 million and recently reported earnings of GBX (0.07) per share for the last quarter.

Shares of Savannah Resources (LON:SAV - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 4.13 ($0.06) and traded as low as GBX 4.10 ($0.05). Savannah Resources shares last traded at GBX 4.13 ($0.06), with a volume of 1,359,992 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 8 price objective on shares of Savannah Resources in a report on Monday, September 15th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Savannah Resources currently has a consensus rating of "Buy" and an average target price of GBX 8.

Savannah Resources Trading Down 0.5%

The stock has a market capitalization of £97.69 million, a price-to-earnings ratio of -24.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.42 and a current ratio of 9.15. The firm has a fifty day moving average of GBX 4.21 and a 200-day moving average of GBX 4.13.

Savannah Resources (LON:SAV - Get Free Report) last announced its quarterly earnings results on Wednesday, September 24th. The company reported GBX (0.07) earnings per share (EPS) for the quarter. As a group, equities analysts predict that Savannah Resources will post 3.3898305 earnings per share for the current fiscal year.

Savannah Resources Company Profile

Savannah Resources Plc explores for and develops mineral properties. It holds interests in Mutamba heavy mineral sands project in Mozambique; copper and gold projects in the Sultanate of Oman; and lithium projects located in Somero and Eräjärvi in Finland. Savannah Resources also has a 75% stake in the Mina do Barroso Project in northern Portugal.

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